Popular Tags, Blogs, and Videos about tax debt

Taxes on Short Sale, Loan Modification & Mortgage Foreclosure 7 Nov08 Bankruptcy & Insolvency

Tax on 1099C, Cancellation of Debt Income; Short Sale, Loan Modification & Foreclosure. Exception; Mortgage Forgiveness Debt Relief Act, Bankruptcy & Insolvency. Go To RealEstateMarketingThisWeek.com Part 7 (Excerpt) Beware of grandiose claims when dealing with a loan modification firm. You know I am glad that were back, when we went to the break we were talking amongst ourselves about some of these concepts, I really want to bring this back down to the listeners. [more...]

Date: 2009-09-29 17:30:06

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ABA Tax Section Awards

The ABA Tax Section yesterday announced the winners of its two inaugural Public Service Tax Fellowships (blogged here): Laura Newland (J.D ... and benefits, as well as law school debt assistance, by means of charitable contributions ... residents in the area of affordable housing (tax lien foreclosure), debt forgiveness, bankruptcy matters [more...]

Date: 2008-12-16 14:01:08


Short sale debt forgiveness not to be taxed

The state Department of Revenue, reversing an earlier stand, says sellers do not have to pay real estate excise tax on debt forgiven in a short sale. [more...]

Date: 2009-01-15 18:03:00


IRS Help for Taxpayers Owing Back Taxes

If you currently owe the IRS and are having trouble making payments due to your current financial condition, there may be relief for you from the IRS. While they won't forgive the debt, they will make ... with an installment agreement in place. They may be allowed to miss a payment or even reduce [more...]

Date: 2009-01-10 17:19:13


Forgiven Debt Really is Income

There was a pretty good post over at WiseBread yesterday on how if a credit card company forgives some of what you owe, what was forgiven is income you have to pay taxes on. On the one hand, this is a point worth repeating because it seems to surprise most people. On the other hand, the post neglects to mention an important exception, and, moreover, feeds into the belief that this is an irrational fluke of the tax code. It isn’t. It makes sense. You owe Credit Card Corporation (CCC) $5000. [more...]

Date: 2009-09-23 15:59:00



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